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Top 100 RIAs in America

Aug 19, 2011 8:23 AM


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Top 50 Asset Manager RIAs

Some of the top companies on this list may balk at being identified as asset managers. They see the services they offer to their ultra-high-net-worth clients as more akin to those of the wealth management universe. We've included them here because their role is primarily to build and manage their investors' portfolios. You generally won't find CFPs or attorneys on staff to produce financial plans or trust and estate programs for clients; you are more likely to find plenty of CFAs who help build portfolios. Using data gleaned from ADV files on record with the SEC, Registered Rep.'s partner, Meridian-IQ, sought to filter out wealth management RIAs. Firms with no more than 50 employees who work as broker/dealer reps were included in the list since some RIAs are hybrids that offer commission-based services for clients. The list doesn't rank by size of retail clients, but the fact that a company is serving that market segment to some degree suggests that its retail assets under management are significant. After all, nearly every RIA on the list has more than $1 billion in AUM.


Business Name City # Employees Give Advice Individual Clients* High Net Worth* Total Accounts Total Aum $ ml)
1. Veritable LP Newtown Square, PA 11-50 Up To 10% 51-75% 2,642 10,058
2. Gilder Gagnon Howe & Co. LLC New York, NY, NY 11-50 51-75% 26-50% 5,846 5,562
3. Curian Capital LLC Denver, CO 6-10 More than 75% Up to 10% 50,059 5,383
4. Litman/Gregory Asset Management LLC Orinda, CA 11-50 Up To 10% More Than 75% 934 4,859
5. Bel Air Investment Advisors LLC Los Angeles, CA 11-50 Up To 10% More Than 75% 4,124 4,921
6. Windhaven Investment Management, Inc. Boston, MA, MA 11-50 11-25% 51-75% 7,028 4,693
7. Rothschild Asset Management Inc. New York, NY, NY 11-50 More Than 75% Up To 10% 1,160 4,331
8. Wasmer Schroeder & Co Inc. Naples,FL 11-50 Up To 10% 51-75% 1,386 3,756
9. R H Bluestein & Co. Birmingham, MI 6-10 Up To 10% More Than 75% 1,436 3,394
10. Symmetry Partners Glastonbury, CT 11-50 51-75% 11-25% 18,620 3,343
11. Buckingham Asset Management, LLC St Louis, MO 11-50 11-25% 51-75% 7,202 3,038
12. Dana Investment Advisors Inc. Brookfield, WI 11-50 11-25% Up To 10% 2,499 2,740
13. KCM Investment Advisors San Rafael, CA 6-10 Up To 10% 51-75% 1,819 2,591
14. Manning & Napier Advisory Advantage Corporation Fairport, NY 11-50 More Than 75% 11-25% 4,408 2,521
15. Ingalls & Snyder LLC New York, NY, NY 11-50 11-25% 26-50% 3,686 2,500
16. CCM Investment Advisers, LLC Columbia, SC 1-5 26-50% Up To 10% 670 2,281
17. Evanson Asset Management, LLC N/A 1-5 Up To 10% More Than 75% 2,970 2,185
18. Seaward Management Boston, MA, MA 6-10 Up To 10% More Than 75% 1,351 2,017
19. Thomas Weisel Partners LLC San Francisco, CA 11-50 Up To 10% More Than 75% 1,304 1,944
20. Wilkinson O'Grady & Co. Inc. New York, NY, NY 6-10 11-25% 51-75% 529 1,829
21. Clifford Swan Investment Counsel LLC Pasadena, CA 11-50 26-50% 51-75% 2,136 1,816
22. Wilbanks, Smith & Thomas Asset Management, LLC Norfolk, VA 6-10 26-50% 26-50% 2,569 1,784
23. A. R. Schmeidler & Co., Inc. New York, NY, NY 11-50 26-50% 26-50% 1,492 1,526
24. Cumberland Advisors Sarasota, FL 6-10 Up To 10% More Than 75% 1,394 1,504
25. EFG Capital Asset Management LLC Miami, FL 11-50 Up To 10% 51-75% 383 1,480
26. Sol Capital Management Co. Rockville, MD 1-5 11-25% 26-50% 537 1,424
27. Highland Capital Management, LLC Memphis, TN 6-10 26-50% 26-50% 576 1,413
28. Adviser Investments Newton, MA 11-50 51-75% 11-25% 4,544 1,338
29. Smith Shellnut Wilson Madison, MO 6-10 51-75% Up To 10% 432 1,334
30. Adhesion Wealth Advisor Solutions Charlotte, NC 1-5 More Than 75% 11-25% 5,503 1,305
31. Gagnon Securities, LLC New York, NY, NY 11-50 26-50% 26-50% 1,000 1,293
32. Palladium Registered Investment Advisors Norfolk, VA 6-10 26-50% 26-50% 1,322 1,286
33. Essex Financial Services, Inc. Essex, CT 11-50 51-75% 26-50% 2,659 1,265
34. Hillview Capital Advisors, LLC Radnor, PA 6-10 Up To 10% More Than 75% 996 1,242
35. Cincinnati Asset Management Inc. Cincinnati, OH 6-10 51-75% Up To 10% 2,700 1,241
36. Northeast Investment Management Inc. Boston, MA, MA 6-10 51-75% 26-50% 1,238 1,224
37. Highline Wealth Management, LLC Bethesda, MD 6-10 Up To 10% More Than 75% 1,622 1,113
38. Talon Asset Management, LLC Chicago, IL, IL 11-50 Up To 10% More Than 75% 662 1,105
39. Tower Wealth Managers, Inc. Prairie Village, KS 1-5 26-50% 26-50% 1,616 1,102
40. Steele Capital Management, Inc. Dubuque, IA 6-10 26-50% 11-25% 3,190 1,099
41. Aris Wealth Services Inc. State College, PA 6-10 More Than 75% 11-25% 4,120 1,097
42. Avatar Associates New York, NY, NY 6-10 26-50% 11-25% 4,600 1,069
43. Scharf Investments, LLC Scotts Valley, CA 6-10 Up To 10% More Than 75% 1,260 1,056
44. Hays Advisory LLC Brentwood, TN 6-10 51-75% 26-50% 4,332 1,026
45. True North Advisors, LLC Dallas, TX 11-50 26-50% 26-50% 3,433 1,017
46. Apex Capital Management Inc. Dayton, OH 6-10 11-25% 26-50% 592 1,010
47. Grimes & Company, Inc. Westborough, MA 6-10 11-25% 51-75% 1,364 1,005
48. ZWJ Investment Counsel Inc. Atlanta, GA 6-10 26-50% 51-75% 1,237 989
49. Willis Investment Counsel Inc. Gainesville, GA 1-5 Up to 10% 26-50% 212 980
50. Telemus Investment Management Southfield, MI 11-50 26-50% 51-75% 2,089 977
*As a percentage of total clients. All data effective May 25, 2011.
Source: Meridian AIQ.
Note: Penton Media, publisher of Registered Rep., is an investor in Meridian.

Top 50 Wealth Manager RIAs

The phrase “wealth management” is used throughout the financial advisory industry; even asset managers like the sound of it. (See the accompanying asset manager RIA list for examples of companies with the phrase “wealth management” in their titles.) But the term properly refers to advisors who offer a broad range of financial services in addition to managing money. These often include financial planning, trust and estate counseling, educational expense planning, and so on. Since the breadth of service can be quite comprehensive, wealth managers typically have greater share of client wallet than their asset-managing brethren. The average AUM of the 50 wealth managers on Registered Rep.'s list stands at nearly $6.5 billion, compared to $2.2 billion AUM among RIAs on the asset manager list. Meridian-IQ, Rep.'s partner in preparing the lists based on ADV form data from the SEC, included firms on the wealth management list that offer financial planning and have a limited number of investment companies as clients. As with the asset manager list, this list doesn't rank by size of retail clients, and it does include RIAs with no more than 50 broker/dealer reps.


Business City   # Employees Give Advice Individual Clients* High Net Worth* Total Accounts Total Aum $ ml)
1. M&I Investment Management Corp. Milwaukee, WI   51-250 26-50% 26-50% 1,483 24,089
2. Genspring Family Offices, LLC Palm Beach Gardens, FL   51-250 Up To 10% More Than 75% 13,002 17,453
3. StanCorp Investment Advisers, Inc. Portland, OR   11-50 51-75% Up To 10% 17,970 17,220
4. Arnerich Massena, Inc. Portland, OR   11-50 11-25% 26-50% 995 15,328
5. Canterbury Consulting Inc. Newport Beach, CA   11-50 11-25% 11-25% 6,386 12,315
6. Oxford Financial Group, Ltd Carmel, IN   11-50 Up To 10% More Than 75% 5,196 10,441
7. Convergent Wealth Advisors, LLC Potomac, MD   51-250 Up To 10% More Than 75% 5,293 10,392
8. Sageview Advisory Group, LLC Irvine, CA   11-50 11-25% 11-25% 527 10,210
9. Moneta Group Investment Advisors, LLC Clayton, MO   51-250 11-25% 51-75% 19,695 10,187
10. Chevy Chase Trust Company Bethesda, MD   11-50 Up To 10% More Than 75% 1,950 9,250
11. Denver Investments Denver, CO   11-50 26-50% 51-75% 1,355 9,006
12. Oppenheimer Asset Management New York, NY, NY   11-50 11-25% 26-50% 30,273 8,205
13. Rockefeller Financial New York, NY, NY   11-50 26-50% 26-50% 2,622 7,072
14. Shepherd Kaplan LLC Boston, MA, MA   11-50 Up To 10% 51-75% 1,430 6,903
15. Tag Associates LLC New York, NY, NY   11-50 Up To 10% More Than 75% 994 6,758
16. Plante Moran Financial Advisors Southfield, MI   11-50 11-25% 51-75% 2,096 6,714
17. Atlantic Trust Private Wealth Management Chicago, IL, IL   51-250 Up To 10% 26-50% 3,207 6,575
18. Legg Mason Investment Counsel, LLC Baltimore, MD   11-50 11-25% 51-75% 2,466 6,390
19. Sontag Advisory LLC New York, NY, NY   6-10 11-25% 51-75% 10,342 5,875
20. Johnson Investment Counsel, Inc. Cincinnati, OH   11-50 51-75% 26-50% 7,619 5,836
21. Ronald Blue & Co. LLC Roswell, GA   51-250 51-75% 26-50% 14,271 5,834
22 BBR Partners, LLC New York, NY, NY   11-50 Up To 10% More Than 75% 982 5,392
23. MyCIO Wealth Partners, LLC Philadelphia, PA   11-50 Up To 10% More Than 75% 3,546 5,315
24. DiMeo Schneider & Associates LLC Chicago, IL, IL   11-50 Up To 10% 26-50% 333 4,579
25. Aspiriant, LLC San Francisco, CA   11-50 Up To 10% More Than 75% 3,128 4,559
26. Geneva Investment Management Of Chicago, IL, LLC Chicago, IL   11-50 51-75% Up To 10% 9,781 4,453
27. Blue Prairie Group, LLC Chicago, IL   11-50 11-25% 11-25% 282 4,411
28. KLS Professional Advisors Group, LLC New York, NY   11-50 Up To 10% More Than 75% 6,894 4,182
29. Loring, Wolcott & Coolidge Fiduciary Advisors, LLP Boston, MA   11-50 Up To 10% More Than 75% 2,676 4,144
30. Beacon Pointe Advisors, LLC Newport Beach, CA   11-50 11-25% 51-75% 3,443 4,016
31. Fiduciary Counselling Inc. St Paul, MN   11-50 26-50% 51-75% 1,293 3,846
32. Eaton Vance Investment Counsel Boston, MA   11-50 26-50% 51-75% 1,720 3,841
33. Mercer Global Advisors Inc. Santa Barbara, CA   51-250 51-75% 11-25% 13,086 3,787
34. Optimum Investment Advisors, LLC Chicago, IL   11-50 51-75% 11-25% 776 3,580
35. Clarfeld Financial Advisors Inc. Tarrytown, NY   11-50 Up To 10% More Than 75% 2,618 3,441
36. Stacey Braun Associates Inc. New York, NY   6-10 26-50% Up To 10% 555 3,394
37. GW & Wade, LLC Wellesley, MA   11-50 11-25% More Than 75% 5,744 3,321
38. Stralem & Co Inc. New York, NY   6-10 Up To 10% 26-50% 435 3,292
39. Ballentine Partners Waltham, MA   11-50 Up To 10% More Than 75% 2,238 3,246
40. Welch & Forbes LLC Boston, MA   11-50 Up to 10% More than 75% 2,239 3,158
41. Bahl & Gaynor Inc. Cincinnati, OH   11-50 26-50% 26-50% 1,348 3,049
42. Gresham Partners, LLC Chicago, IL   11-50 Up To 10% More Than 75% 1,150 2,939
43. Gofen And Glossberg, LLC Chicago, IL   11-50 11-25% 51-75% 2,712 2,910
44. Equitas Capital Advisors, LLC New Orleans, LA   1-5 Up To 10% 11-25% 466 2,892
45. Wetherby Asset Management San Francisco, CA   11-50 Up To 10% More Than 75% 3,024 2,873
46. Spruce Private Investors, LLC Stamford, CT   6-10 11-25% 51-75% 170 2,851
47. Strategic Capital Advisers, Inc. Denver, CO   6-10 51-75% 11-25% 157 2,680
48. Prairie Capital Management LLC Kansas City, MO   11-50 Up to 10% 51-75% 1,543 2,656
49. Valley Forge Asset Management Corp. King of Prussia, PA   11-50 11-25% More than 75% 2,135 2,656
50. Kibble & Prentice Holding Co. Seattle, WA   11-50 11-25% 51-75% 557 2,656
*As a percentage of total clients. All data effective May 31, 2011.
Source: Meridian AIQ.
Note: Penton Media, publisher of Registered Rep., is an investor in Meridian.

 


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